07-27-2014
• http://www.zerohedge.com, by Tyler Durden
Ten years later, it was only $56,335, or a 36% decline... Welcome to
America's Lost Decade.

Simply put, the
NY Times notes, it's not merely an issue of the rich getting richer.
The typical American household has been getting poorer, too.

The reasons for these declines are complex and controversial, but one point
seems clear: When only a few
people are winning and more than half the population is losing, surely something
is amiss.

As
Russell Sage Foundation concludes, through at least 2013, there are
very few signs of significant recovery from the loss of wealth experienced by
American families during the Great Recession. Declines in net worth from 2007 to
2009 were large, and the declines continued through 2013. These wealth
losses, however, were not distributed equally. While large absolute
amounts of wealth were destroyed at the top of the wealth distribution,
households at the bottom of the wealth distribution lost the largest
share of their total wealth. As a result, wealth inequality increased
significantly from 2003 through 2013; by some metrics inequality roughly
doubled.